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Property Address

6480 MIAMI DRIVE, Indian Lake Estates, FL  33855

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Property Details

Status
Active
Type
Multi-family
Units
18
Year Built
1958
Subdivision
INDIAN LAKE ESTATES
Heating
Space Heater
Cooling
Wall/Window Unit(s)
Approx Sq. Feet
8,880
Lot Size
150x250
Acreage
0.86
Est. Taxes
$3,759
Days on Market
73 days
MLS#
O5839794

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$499,900 ($56 per SQ/FT)

6480 MIAMI DRIVE, Indian Lake Estates, FL, Florida 33855. OVER 12% ROI ESTIMATE AFTER EXPENSES!! Great income producing motel for sale, with 17 rooms, and still room for growth!! This motel is off a main road with 417 coming in one way and off I-27 the opposite direction. JJs Motel has many long term visitors who have been coming for the last 20+ years! Perfect for those who visit River Ranch for hunting/fishing season, as many bass groups and hunting groups come throughout the year. (Currently JJs has a yearly contract with a watermelon farm that occupies 13 of 17 rooms for 6 weeks between April to May.) A majority of rooms are being rented weekly, with many long term weekly renters! Current setup on front side is 9 double occupancy rooms of at least 300+ sqft, back side is 3 kitchenette rooms, 3 large living room suites, 2 extra large rooms of at least 400+ sq ft, and in addition, 1 office and 1 managers apartment. Still room for untapped potential as the current 1 year rolling income doesn't even include the majority of weekly renters that started in August/September. This can easily reach $120,000+ gross income yearly as Currently 0 online advertising is done! Schedule an appointment today to see the high potential!

 
 

Listing courtesy of RE/MAX DOWNTOWN